The first Bitcoin ETF in North America, TSX’s Purpose Bitcoin ETF, had a gangbuster debut today, trading nearly $100 million in volume.
A Bloomberg Law report noted that the ETF saw over $80 million in volume in the first hour of trading, though it’s since slowed significantly with roughly another $15 million in volume between BCTCC.B, the Canadian dollar-denominated units, and BTCC.U, the American dollar-denominated ticker. As of publication, BTCC.B has traded 7,905,000 units priced at $10.28, and BTCC.U 1,312,000 units at $10.27, per the TSX.
In a press release today, ETF provider Purpose Investments founder and CEO Som Seif said that his company believes Bitcoin has a promising future.
“We believe Bitcoin, as the first and largest asset in the emerging cryptocurrency ecosystem, is poised to continue its growth trajectory and adoption as an alternative asset, further cementing the investment opportunity it presents,” said Seif. “Driving forward to be the leader in…